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Lil Wayne's daughter gifted Ferrari GTO, BMW X4 for 16th birthday [w/video]

It must be nice to have ludicrously rich parents. Rapper Lil' Wayne's daughter Reginae recently celebrated her 16th birthday with a huge party in Atlanta. Where many teens would be overjoyed just to get a family hand-me-down for a first car, the rapper's daughter got two brand-new vehicles – a BMW X4 and a Ferrari 599 GTO. The X4 would certainly be extravagant by itself, but it's not totally without precedent. Anyone who watched even a snippet of MTV's old show My Super Sweet 16, probably saw a few vehicles that were just as expensive. However, the concept of any newly licensed teen behind the wheel of a Ferrari is absolutely terrifying to us. This one is even crazier, with 661 horsepower and a chassis capable of lapping Ferrari's Fiorano test track quicker than an Enzo. Of course, with just 599 built, Reginae could probably just park the coupe and let it appreciate enough to finance her next big party. The BMW is reportedly going to be her daily driver, anyway. According to TMZ, Reginae's mother and stepfather bought her the Ferrari with Lil' Wayne's blessing. They believe their daughter can handle the 599 GTO, which shows some serious – if misguided – trust. Check out the video below to see the cars and her party. Related Gallery 2015 BMW X4 View 55 Photos Related Gallery Ferrari 599 GTO View 15 Photos News Source: TMZ via YouTube BMW Ferrari Car Buying Ownership Videos ferrari 599 ferrari 599 gto

Cars with the worst resale value after 5 years

While the old saying that cars lose a massive chunk of their value as soon as they’re driven off the dealerÂ’s lot might not be entirely true these days, most new vehicles steadily lose value as they age and are used. iSeeCars recently released its latest study on depreciation, finding the models that lose value the fastest, and the list is packed with high-end nameplates. The vehicles that lost value the fastest over five years include: Maserati Quattroporte: 64.5% depreciation BMW 7 Series: 61.8% Maserati Ghibli: 61.3% BMW 5 Series Hybrid: 58.8% Cadillac Escalade ESV: 58.5% BMW X5: 58.2% Infiniti QX80: 58.1% Maserati Levante: 57.8% Jaguar XF: 57.6% Audi A7: 57.2% While sports cars, hybrids, and trucks dominated the list of slowest-depreciating vehicles, luxury brands accounted for all of the top ten fastest-depreciating models. iSeeCars executive analyst Karl Brauer also pointed out EVsÂ’ lack of representation on the slow-depreciating vehicles list, saying that thereÂ’s a disconnect between what automakers are building and what people actually want. The average five-year depreciation for all vehicles in the iSeeCars study was 38.8 percent. ThatÂ’s an almost 11% improvement over 2019Â’s figures, but some vehicle types perform worse than others. EVs depreciated 49.1 percent over five years, while SUVs dropped 41.2%. Trucks only fell 34.8% and hybrids 37.4%. Brauer noted that all vehicles depreciate slower than they did five years ago. Even so, EVs are not the best choice if youÂ’re looking for a vehicle that wonÂ’t feel like a ripoff when itÂ’s time to trade in. On the flip side, used EVs can present a stellar value, saving thousands over their new counterparts. Charging times and availability remain concerns for buyers in large parts of the country, but a heavily depreciated EV could be the used car value youÂ’ve been looking for. The same wisdom applies to used luxury vehicles, as the list above indicates. While new-car buyers shopping for luxury cars are set to see big depreciation during their ownership, that means the used car market is flooded with inexpensive used luxury cars. High repair costs and costly maintenance schedules are real issues that used luxury models face, however. Green Audi BMW Cadillac Infiniti Jaguar Maserati Car Buying Used Car Buying

BMW now wants to build 'ultimate machine driver'

The lines between the auto industry and Silicon Valley have been blurring for a while now. Google, for example, is hiring people from deep within the automotive world to spruce up its autonomous driving project. Apple is doing the same, and Tesla's sort of on both sides. More examples are easy to find. That's why it's no surprise, really, that there's a movement happening behind the scenes at BMW to reinvent the roundel. Speaking at the Geneva Motor Show this week, BMW board member Klaus Froehlich told Reuters that the Bavarian automaker is refocusing its sights on Silicon Valley. The goal, Froehlich said, is to have half of BMW's research and development staff to be computer programmers. Their mission: to build the AI that will maneuver upcoming self-driving BMWs. In other words, after 100 years of building what the company calls the ultimate driving machine, BMW is shifting over to the ultimate machine driver. We should've seen it coming with that autonomous driving video last year. Many automakers are working on autonomous cars these days, and this is all nothing new for BMW, but Froehlich's comments show an increased focus on cars that will drive you. "For me it is a core competence to have the most intelligent car," Froehlich said. "Our task is to preserve our business model without surrendering it to an Internet player." Some of the tasks that Froehlich sees for an expanded software team will be developing better cloud connection, so that a self-driving car can get messages from a central network. It means perhaps licensing BMW's plug-in powertrains to smaller companies that maybe can't build their own but have other strengths that BMW can access. By developing its own staff and working with partners – the same strategy automakers have used for years – BMW is trying to get ready for the autonomous future. Related Video: News Source: ReutersImage Credit: Harold Cunningham/Getty Images Green BMW Technology Emerging Technologies Autonomous Vehicles Electric Future Vehicles bmw i research and development klaus froehlich